Edmond mortgage company Adfitech to lay off 320 employees

EDMOND — Mortgage services company Adfitech Inc., Edmond's largest private employer, said Friday it would lay off half its workforce in December.

Adfitech Inc. a mortgage services company laid off 320 employees in Edmond, Friday October 18, 2013. Photo By Steve Gooch, The Oklahoman

The company said it would lay off 320 employees because of “abrupt changes in customer needs.” The layoffs are scheduled to take effect Dec. 20.

Adfitech said the layoffs were necessary for the long-term viability of the company, which provides outsourcing services to major lenders, banks and mortgage companies.

Adfitech has about 620 employees in Edmond, according to a March report from the Edmond Economic Development Authority. After the planned layoffs, the company will fall behind OU Medical Center Edmond, which has nearly 450 employees.

“This reduction was difficult because it affects so many of our loyal, talented and hardworking employees,” Sam Meek, Adfitech's president, said in a statement. “However, it was necessary in order to align our workforce with the current needs of our customers.”

A company representative declined to answer additional questions Friday.

Toni Weinmeister, associate director for the Edmond Economic Development Authority, said Adfitech's current employment trails only Edmond Public Schools, the University of Central Oklahoma and the city of the Edmond.

“They've always been a good corporate citizen and employer for Edmond,” Weinmeister said.

Adfitech filed for bankruptcy in 2009 and reorganized in 2010. The company has received more than $2.3 million in Quality Jobs incentive payments since 2001, according to the Oklahoma Department of Commerce.

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by Paul Monies

Energy Reporter

Paul Monies is an energy reporter for The Oklahoman. He has worked at newspapers in Texas and Missouri and most recently was a data journalist for USA Today in the Washington D.C. area. Monies also spent nine years as a business reporter and...